| 1. |
How do we get our claims to you? |
| 2. |
Do you transmit claims electronically? |
| 3. |
How quickly are we reimbursed? |
| 4. |
Will you also re-submit for secondary/tertiary insurance? |
| 5. |
What is your average collection rate? |
| 6. |
How quickly can you be up and running? |
| 7. |
How do we get our existing patient data to you? |
| 8. |
Should we continue to work our previous billings/collections once you take over? |
| 9. |
How do I know that you will be more effective than our own office staff? |
| 10. |
How do I know that my patient data is secure? |
| 11. |
Will I have dedicated resource for my account? |
| 12. |
How often are my claims processed? |
| 13. |
Where does my money go? |
| 14. |
How much experience do you have with my medical specialty? |
| 15. |
What type of software do you use? |
| 16. |
I am new in my practice - How do I set my fees? Will you assist in watching reimbursements? |
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| 1. |
How do we get our claims to you? |
You can have them faxed or submitted to us electronically. Submit Super-bill using our Scheduling system using secure encrypted internet connection. If you choose the electronic method, our software also includes a Scheduling module, which makes it very easy for you to print super bills, maintain patient demographics, and get the claims to us on a daily basis. |
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| 2. |
Do you transmit claims electronically? |
| Yes, to almost all Payers. Certain payers such as Secondary, Tertiary and local HMO do not currently have electronic claims capabilities. |
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| 3. |
How quickly are we reimbursed? |
| The variance of payers and many outside factors make this a difficult question. However, the average turnaround in the industry is 30-45 days. Our goal is to collect 50% of your claims in 30 days and over 92% in 45 days.* |
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| 4. |
Will you also re-submit for secondary/ tertiary insurance? |
| Yes. |
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| 5. |
What is your average collection rate? |
| The "Net" collection is defined as: payments divided by gross charges, minus adjustments. Our average "Net" collection rate is 90% to 93% of your allowed amounts (based on payer contracted rates). |
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| 6. |
How quickly can you be up and running? |
1 day if necessary; however, we prefer 2 weeks to ensure the smoothest transition possible. (This is also dependent upon credentialing if you are a new practice, which may take longer). We also like to start at the beginning of the month so that it is easier for you to separate your previous dates of service from the "cut over" dates to PracticeClaims. |
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| 7. |
How do we get our existing patient data to you? |
| There are 2 options: 1) A complete printout (or softcopy) from your existing system. 2) Submit Super-bill directly from our Practice Management System. |
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| 8. |
Should we continue to work our previous billings/collections once you take over? |
| If possible, we prefer that you continue to work (post payments and re-bill) your existing accounts receivable for a period of three months. If this is not possible, we can handle that as well. |
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| 9. |
How do I know that you will be more effective than our own office staff? |
| We try to be a billing service company with a difference. Our timeliness (claims processing), consistency (no leave, no vacation, no absenteeism of staff), accurateness (we do not send out claims that we are not confident of being paid) and aggressive follow-up will generally result in increased cash flow. |
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| 10. |
How do I know that my patient data is secure? |
| We have a state of the art secured data center which backs up all client data several times a day with offsite storage for backups and redundancy. We also have a secured building, with redundant power supply, with complete offsite alarm monitoring. We are a covered entity as defined by HIPAA and have responsibility for patient confidentiality as much as you do. |
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| 11. |
Will I have dedicated resource for my account? |
| Yes, PracticeClaims utilizes a "team" billing approach. Your account will be handled by a small team of no less than three to four representatives who will all be cross trained on your account. This will allow for more than enough coverage as your practice grows. |
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| 12. |
How often are my claims processed? |
Within 24 hours of receipt, we will prepare your claims for processing. Obviously, if we need to gather additional information from your practice, we will reach out to you for that information, and prepare for processing upon complete receipt of that information. |
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| 13. |
Where does my money go? |
| All payments come directly to your office. You then send us the EOB's (Payers will send us ERA) along with your daily super bills / encounter forms. |
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| 14. |
How much experience do you have with my medical specialty? |
| Our companies have experience in handling many specialties. We have experience and a current client base that is made up of everything from Family Medicine, Internal Medicine, Pediatrics, Urgent Care, Surgeons and a host of other specialties. |
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| 15. |
What type of software do you use? |
| We use our own Billing software. |
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| 16. |
Iam new in my practice – How do I set my fees? Will you assist in watching reimbursements? |
We advise most of our clients when setting fees initially, or re-setting your fees to work from the Medicare allowed fee structure and multiply by 130% or 1.3. We will continually monitor your reimbursement rates to make sure that you are maximizing your reimbursements with correct fees, and we will provide the appropriate advice when deemed necessary. |
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